Lower and lower, 70 cents end 2014, 1$ mid 2014, next one at 25 cents ?

TORONTO, March 19, 2015 (GLOBE NEWSWIRE) -- Electrovaya Inc. (EFL.TO) (the "Company") announces the closing of a private placement to accredited investors of units of the Company for gross proceeds of approximately Cdn $1 million.

Each unit was sold for Cdn $0.49 and is comprised of one common share of the Company and one common share purchase warrant of the Company. Each common share purchase warrant is exercisable to acquire one common share of the Company at a price of Cdn $0.75 for a period of 36 months.